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Will The Bank Fiasco Affect Mortgage Rates?
Posted on 3/13/23 at 9:57 pm
Posted on 3/13/23 at 9:57 pm
I’m not even going to pretend I understand what happened but as someone who is wanting to build a house, will any of this affect mortgage rates?
9
Posted on 3/13/23 at 10:19 pm to GAFF
I know existing home sales are down from 2022, but are people still building houses in this current economic situation?
Posted on 3/13/23 at 10:24 pm to GAFF
If it causes the Fed to halt the rate hikes then its probably going to halt mortgage rates for a bit.
Posted on 3/13/23 at 10:29 pm to GAFF
it already has. unsure if just a blip or for longer term, but rates did drop. that said, mortgage rates mostly depend on fed rate
Posted on 3/13/23 at 11:14 pm to GAFF
I went to finalize some paperwork on the refinancing of my house and was told the rate had dropped from 6.05 to 5.80. Old rate was from a week ago.
Posted on 3/13/23 at 11:32 pm to GAFF
quote:Rates have collapsed across the curve. They have a good chance of coming down starting this week. Rate vol is high, though, so that will offset it for awhile I would surmise.
Will The Bank Fiasco Affect Mortgage Rates?
Posted on 3/14/23 at 1:56 am to GAFF
This may make banks overdo due diligence for the loan and you find underwriting moving like molasses in the wintertime. Good luck.
Posted on 3/14/23 at 7:43 am to GAFF
Hoping the Fed sees what we all see and immediately halts rate hikes. The market will correct but if rates keep going up it’ll drive recession even more
Posted on 3/14/23 at 8:50 am to GAFF
It's certainly affecting some of the business deals I was getting as recent as last summer. Seems like there's less willingness to bend a little to make some deals work from some of the senior level management types.
Posted on 3/15/23 at 6:36 pm to GAFF
Definitely starting to see rates drop a little. Not sure how low they’ll go or how long it’ll last but in the short term at least it seems rates are being affected.
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